Michael D. Lappin, Founding Member

Michael D. LappinPast CEO and President of The Community Preservation Corporation (CPC) and CPC Resources Inc.  (1980 – 2011)

Led CPC to become New York State’s leading financer of affordable housing, having financed almost $8 billion for the building and redevelopment of over 140,000 homes.  Pioneered in establishing a $1.5 billion program with the New York City public employee pension funds and the New York State public pension funds to provide long-term, forward-committed fixed-rate financing for the rehabilitation and new construction of affordable rental projects.

CPCR’s development activities included the restoration of the 12,271-unit Parkchester housing complex in the Bronx; the entitlement of 2.8 million square feet for the 11 acre Domino site on Brooklyn’s waterfront for the development of a mixed- income, mixed-use community; and the development of over 100 buildings for low, moderate and middle income housing in New York City.